Vitesse Energy, Inc. reported a net income of $2.7 million and adjusted net income of $8.0 million for the first quarter of 2025. Adjusted EBITDA for the quarter was $39.9 million, with oil and natural gas production averaging 14,971 Boe per day, an increase of 16% from the fourth quarter of 2024.
Total revenue, including the effects of realized hedges, reached $66.9 million. The company maintained its quarterly cash dividend at $0.5625 per share, equating to an annualized rate of $2.25 per share. General and administrative expenses for the quarter totaled $12.1 million, or $9.00 per Boe, which included $4.6 million of one-time costs related to the Lucero acquisition and $1.6 million in litigation-based legal costs.
In response to commodity price volatility, Vitesse revised its 2025 annual guidance, implementing a 32% reduction in planned capital expenditures at the midpoint, now projected between $80 million and $110 million. The revised annual production guidance is set between 15,000 and 17,000 Boe per day, a 9% decline from prior guidance but still a 23% increase over 2024 production. The company also deferred the completion of two operated drilled but uncompleted wells and elected not to proceed with approximately $20 million in planned incremental acquisitions.
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